Quote:
Originally Posted by Rick Lee
Are you kidding? Cash prize of $25k per gold and the US taxes worldwide income of its citizens. Yes, quite true.
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Quote:
Originally Posted by Dottore
I know the US is farked on so many levels, but this somehow strikes me as unbelievably cynical. Taxing an athlete on their Olymipc medal?
Jesus H. Christ.
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More than catnip, this latest conservative tax myth is like a designer drug for the Fox News set, tailored perfectly for maximum impact at a time when Americans are hungry for anything Olympics-related. The offense: According to Americans for Tax Reform, Grover Norquist’s anti-tax outfit, President Obama’s IRS will tax Olympic winners up to $9,000 after they return home victorious from London. Conservative blogs are having a field day and Republican politicians are clamoring to capitalize on news. Darling Sen. Marco Rubio of Florida introduced a bill to exempt Olympians’ winnings from taxes and an adviser to Mitt Romney told reporters today, “He believes that there should be no taxation of the type you are describing.” They’re calling on Obama to support the plan.
Romney’s Olympic tax myth - Salon.com
Mark, is this article credible in your estimation?